Define a sustainable Compensation policy

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Design sustainable compensation that promotes sustainable behaviours (balance between base / variable). This will ensure your compensation drives the right behaviors (long term development versus short term gains, collaboration versus individualistic behavior)

Define your compensation philosophy to ensure pay equity, especially for employees who might have interrupted their career (returning parents to the workforce), minorities (with less access to higher education grade). Take into account the skills needed to complete the job, rather than the years of experience or the diploma. Define a framework for your compensation to ensure correct mapping of your roles and employees, as per the skills and experience needed to perform each job.

Run audits on your compensation by gender to ensure gender pay equality and correct gaps.

If you feel comfortable, as a commitment to pay equality you can publish internally your salary ranges (minimum & maximum), so each employee knows they are fairly compensated for a given job.

If that is not already the case, automate all payment processes to allow for easy and swift payments.

ADDITIONAL RESOURCES

See some examples of different companies' approches terms of compensation policies in this article: Corporate Citizenship.

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